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You want to buy a $203,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan for

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You want to buy a $203,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan for the rest. a) How much is the loan amount going to be? $ b) What will your monthly payments be if the interest rate is 5%? S c) What will your monthly payments be if the interest rate is 6% ?

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a To find the loan amount we first need to calculate the down payment 5 of 203000 is 10150 So the ... blur-text-image

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